Archive for March 29th, 2009

GM And Chrysler: The Administration Doesn’t Like What They Have To Sell

This is a bit of a bombshell. The WSJ is out with a report that the Obama administration may well let GM and Chrysler go Chapter ll. In fact, they say that Chrysler isn’t viable absent a merger of some sort with Fiat. Here is the meat of the report from the Journal. The administration’s […]

Fannie, Freddie And The Constitution

This post isn’t about what you think it might be. I need, however, to set the stage. There is news out tonight that Fannie and Freddie’s regulator, the Federal Housing Finance Finance Agency (FHFA) is considering letting the two provide warehouse lending to mortgage banks. This type of financing has dried up during the credit […]

More Money Laundering By AIG?

The blogosphere is buzzing about a post on Zero Hedge. The author posits that the reason the big banks were bragging about their January and February profits was that AIG was cutting sweetheart deals with them on their mutual CDS deals. Lots of rumors and innuendos here, so it’s probably best to wait until some […]

GM CEO Stepping Down

Not a good day to be running a car company. GM is expected to announce its CEO’s resignation and Peugeot fired its CEO today. Reports are that Rick Wagoner will resign from the helm of GM tomorrow after President Obama addresses the issue of additional aid for the company. Though it’s a little unclear from […]

Will The Asian Export Model Survive?

The Economist has a short interesting story on the Asian export model. The article notes how the export oriented strategy grew among many Asian countries, how it became the essential strength of their economies and the devastation that the collapse in demand has wreaked on the strategy. The article poses this question at the end. How […]

Auto Companies Plan Not Satisfactory

President Obama said this morning that the auto companies don’t their act together yet. Appearing on Face the Nation via a taped interview, this is what he had to say: “We’re trying to let them know that we want to have a successful auto industry, U.S. auto industry. We think we can have a successful […]